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Fundamentals of Economics

Purpose

A fascinating article on classical liberalism was posted on the Mises Institute website December 9th, 2020.  The article written by Ryan McMaken, titled “There Is No Conflict Between Classical Liberalism and Religion” illustrates my desire to write and promote TheFundmentalEconomist.com.

The thesis of the article is clearly stated in the title, there is no conflict between classical liberalism and religion.  Both the author of the article, and the author of a primary source Ralph Raico, contend that many of the individuals who are associated with classical liberalism were indeed Christians themselves.  Hence, if Christians where writing thesis that laid the foundation for classical liberalism, then classical liberalism must be compatible with Christianity.  Nonetheless, many of these men were associated with churches and theological systems that are at odds with the Bible.  The issue is not compatibility, the issue is glorifying the God of the Bible through science.

The study of any science must begin with the Bible.   Any other foundation is the thought of man, and, in error.  “For all have sinned and fallen short of the glory of God” Romans 3:23. From the fall in Genesis 3 mankind has been alienated from the Creator.  Mankind walks in vanity of his mind, his understanding is darkened and he is alienated from the life of God.  (Ephesians 4:17+18).  Mankind is in rebellion to God’s authority and by extension, His commands (Romans 1:18-32).  This rebellion is propitiated (Romans 3:25) by faith (Ephesians 2:8+9) in the death, burial and resurrection of Jesus Christ (I Corinthians 15:1-5). 

Man’s understanding of the world around him is tainted by sin.  He can not comprehend the fullness of life or the world around him while in rebellion to God.  Therefore, the propositions put forth by rebellious man are faulty.  The propositions of the born again individual must be taken directly, or derived from God’s Word, the bible, to be truthful and have value.  The unregenerate, those who are not born again, can set forth propositions that are truthful, but they “Ever learning, and never able to come to the knowledge of the truth.” (2 Timothy 3:7)

Observation of a phenomenon does not mean there is a totality of understanding.  The unregenerate observer can observe that the surplus of production leads to trade and wealth is generated in that process, but they cannot understand why it is so.  Describing the process belies the fact that there is an intellect and design given to man such that he acts in this manner. 

The study of any science should lead the individual to God and His Christ.   It is God who commanded man to be productive (Genesis 1:28).  God gave man an intelligence along with the command to be productive.  Using his intelligence man learned how to cultivate and produce both plant and animals.  Obedience to that command led Abel to be a “keeper of sheep” and Cain a “tiller of the ground”. This was an observable phenomenon, but it was only Able who rightly understood the design.  Cain did not.  By faith Abel’s sacrifice was acceptable to the Lord, but Cain’s was not. (Hebrews 11:4).

The goal of TheFundamentalEconomist is to teach the biblical principles of economics and lead people to a saving knowledge of Christ.

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